97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB3095

 

Introduced 2/23/2011, by Rep. Michael W. Tryon

 

SYNOPSIS AS INTRODUCED:
 
35 ILCS 5/208  from Ch. 120, par. 2-208

    Amends the Illinois Income Tax Act. In a Section concerning a credit for residential real property taxes, provides that the Department's electronic filing system must allow taxpayers to enter up to 10 property index numbers per return when calculating the credit.


LRB097 08668 HLH 48797 b

FISCAL NOTE ACT MAY APPLY
HOUSING AFFORDABILITY IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB3095LRB097 08668 HLH 48797 b

1    AN ACT concerning revenue.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Income Tax Act is amended by
5changing Section 208 as follows:
 
6    (35 ILCS 5/208)  (from Ch. 120, par. 2-208)
7    Sec. 208. Tax credit for residential real property taxes.
8Beginning with tax years ending on or after December 31, 1991,
9every individual taxpayer shall be entitled to a tax credit
10equal to 5% of real property taxes paid by such taxpayer during
11the taxable year on the principal residence of the taxpayer. In
12the case of multi-unit or multi-use structures and farm
13dwellings, the taxes on the taxpayer's principal residence
14shall be that portion of the total taxes which is attributable
15to such principal residence.
16    The Department's electronic filing system must allow
17taxpayers to enter up to 10 property index numbers per return
18when calculating the credit under this Section.
19(Source: P.A. 87-17.)